Thursday, October 06, 2016

Finance Ministry Plans €6.3-Billion Tax Break for Germans

Finance Minister Wolfgang Schäuble plans to cut German taxes by €6.3 billion ($7.1 billion) annually to stimulate domestic demand and counter international criticism that Germany’s export-oriented economy has contributed to a global trade imbalance, Handelsblatt has learned.

Mr. Schäuble will present his tax plans to his foreign counterparts at the upcoming annual meeting of the International Monetary Fund in Washington, a senior finance ministry official told Handelsblatt. The tax breaks are intended to “support domestic demand,” the source said ....